All those magical internet points you got from arguing with online strangers could earn you a mega pay day. Reddit is going public and giving early access to its most active users. Who said karma was an illiquid asset?

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Reddit to give users early access in IPO

Reddit has filed for an IPO ahead of its highly anticipated stock market debut, which is expected in March. The company plans to trade on the New York Stock Exchange under the ticker ‘RDDT’. The listing will be the biggest by a social media company since Pinterest went public in 2019.

Unusually for an IPO, Reddit plans to allow some users to buy shares in the IPO, a privilege usually reserved for institutional investors. The users won’t be subject to a lock-up period, so are in theory able to sell their shares as soon as trading begins. Reddit has acknowledged this carries a risk of increased volatility in its stock price.

The IPO filing also revealed some interesting data about Reddit. The company made a $91 million loss in 2023, down from $159 in 2022, as revenue grew by roughly 21%. Its third-largest shareholder is OpenAI founder Sam Altman, who has an 8.7% stake.

The content we're consuming today

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Off-balance sheet items

• Can being grumpy and bad tempered pay off in life? Don’t know what you’re asking me for.

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